KYMPPI GROUP ACQUIRES NORWEGIAN SOLID VEDLIKEHOLD AS

KYMPPI GROUP ACQUIRES NORWEGIAN SOLID VEDLIKEHOLD AS, WHICH FOCUSES ON INDUSTRY AND OFFSHORE SURFACE TREATMENT APPLICATIONS

Kymppi Group aims to be a Scandinavian leader in the fields of industrial insulation, maintenance and scaffolding.  To strengthen international growth and to complement the service supply with demanding surface treatment applications, Kymppi Group will acquire the entire share capital of Norwegian Solid Vedlikehold AS.

Solid Vedlikehold is a Norwegian, family owned company founded in 1973, which is specialised in demanding surface treatment applications of industrial, energy production, infrastructural construction, and oil and gas industry sites, in addition to offshore sites. Anved Aarbakke Jr, who is a member of the family that founded the company, continues his work as a Country Manager of Kymppi Group for Norway. He will also be a significant shareholder. “Kymppi Group and Solid have co-operated for years in Norwegian projects, that need surface treatment, insulation and scaffolding. A wider selection of products has provided significant benefits for the customers. This creates a good basis for offering services as one ISS company (Insulation, Scaffolding and Surface treatment), also to markets other than in Norway”, Aarbakke Jr. states.

During the past years, Kymppi Group has grown to be a significant international project service company. Kymppi Group has participated in the implementation of several large projects e.g. in Uruguay, Scandinavia and in other parts of Europe. “The acquisition of Solid strengthens Kymppi Group’s position in the Norwegian insulation and scaffolding markets. The strong surface treatment know-how complements Kymppi Group’s existing offering of services. At the same time it improves our ability to serve a domestic and international clientele.”, Jussi Yli-Niemi, the CEO of Kymppi Group states.

“Our customers benefit from the cost-efficiency of a wider service offering, improved project coordination and timetable reliability as well as improved safety co-ordination.”

The Pro forma turnover of Kymppi Group will be approximately 60 million Euros in 2017, of which Solid contributes one third.

Additional information:

Jussi Yli-Niemi, Kymppi Group, CEO tel: +358 407 449 592

Anved Aarbakke Jr., Solid Vedlikehold, General Manager tel: +47 91 33 64 34

Kymppi Group is a leading expert of Finland and customer specific international industrial construction projects in industrial insulation, scaffolding and maintenance. The Group turnover in 2016 was €36 million and the accomplished amount of work years was approximately 500. The owners of Kymppi Group are its operational management and Sponsor Capital, starting from October 2015. Additional information: www.10e.fi

Solid Vedlikehold AS, founded by Anved Aarbakke Sr. in 1973 and is one of the oldest surface treatment companies in Norway. The headquarters are based in Ågotnes, Bergen. The company has several offices in the essential industry and offshore locations of Norway. The turnover of the company in 2016 was 142 million Norwegian krones. Additional information: www.solid-vedlikehold.no